Brexit may lead to higher demand for oil

Brexit may result in higher demand for Norwegian oil and gas and make it harder to achieve global climate goals, Statoil and environmentalists think.

Chief economist of Statoil, Eirik Wærness, believes Britain’s No to the EU may be a signal of increased rivalry between the great powers in times ahead, which could lead to almost 50 percent higher oil demand in 2040 than under a renewable scenario, newspaper Dagens Næringsliv writes.

– There is no guarantee that we will move steadily towards global climate targets, Wærness wrote on Twitter on Friday morning. Later in the day he presented the group’s new scenario analysis – an analysis environmentalists partially agree with.

– There is no doubt that the EU’s joint climate and energy policy has been important to push forward an amendment, also in the UK, Zero Leader Marius Holm says. However, he believes that the British would rather be self-reliant and head more in the direction of cheaper wind and solar power.

About us

Norway Today Media, is an independent newspaper. Our goal is to bring you the latest Norwegian news and happenings in English. We are not connected to any political party, and do not belong to any of the major newspapers in Norway. As a result of this, we are able to give you a neutral view of what is happening in Norway on a day to day basis..

Copyright

Articles and photos that you find in this newspaper, are copyright protected and owned by Norway Today Media. Copying content from the newspaper for commercial use is prohibited. If you should wish to use any of the paper’s content, you are welcome to contact us.